Indicative bids sought for sale of Cegco stake

09 July 2004
Indicative bids are due by 4 August for the purchase of a stake in Central Electricity Generating Company (Cegco), following the issue of an information memorandum to prospective bidders. Sources at the Energy & Mineral Resources Ministry, which is handling the sale, say that they received a better-than-expected response to an initial inquiry launched in April (MEED 9:4:04).

Following the submission of indicative bids, the ministry will take about a month to prepare a shortlist before giving the selected bidders six-eight weeks to submit detailed proposals. An award is anticipated by the end of the year. Cegco has total generating capacity of 1,633 MW, primarily from the 656-MW Aqaba power station and the 396-MW Hussain plant.

When the Cegco sale is complete, Amman is planning to sell off 100 per cent of Electricity Distribution Company (Edco) and its 55.4 per cent stake in Irbid District Electricity Company.

The London office of NM Rothschildis advising the government on the power privatisation programme.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications